Ernst & Young (EY) is a global organization who has made an announcement of introducing the second generation of EY Blockchain Analyzer. The announcement was done at the annual EY Global Blockchain Summit on April 16, 2019.
200+ executives, analysts, and EY clients were convened at the summit. Providing a demo of an overall EY blockchain solutions suite was a purpose to convene them. Providing a complete picture related to the integration of the technology is one more purpose.
Helping to EY teams and non-audit clients is a reason to create a version of the second generation of the EY Blockchain Analyzer. The version of the second generation of the EY Blockchain Analyzer is available as a business application. The EY teams and non-audit clients can use the application whenever they want. Financial reporting, forensic investigations, and transaction monitoring can be enabled through the application. An analysis of zero-knowledge proof (ZKP) private transactions can be supported on the public Ethereum blockchain through the version. Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin public blockchains can be supported through the version.
Tax calculations for crypto-assets will also be supported through the version. EY engagement teams have already used AndyCAAT. 100+ clients were already served through AndyCAAT.
EY is considered as a global leader in assurance, tax, transaction, and advisory services. It is a subsidiary of a multinational professional services firm called Ernst & Young Global Limited.
Helping to EY audit teams was a reason to create the first generation of the EY Blockchain Analyzer. The EY audit teams are helped to collect transactions data from a wide range of blockchain ledgers. The data can be reconciled to EY client books and records through the first generation. Enhanced analytics [trend analysis and identification of outliers] can also be performed through the first generation, according to the official website of EY, the official EY site reported.
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